- Port of LA Hits Record as Shippers Race Tariffs.
- US-EU Near 15% Tariff Deal, Talks Ongoing with China.
- Blank Sailings Resume as Carriers Aim to Hold Rates.
Shippers pushed an unusually high volume of containers in July, trying to get ahead of rising tariffs, which have sparked speculation that the peak shipping season might have arrived earlier than expected. The Port of LA even recorded its busiest day ever, showcasing this surge in activity, reports Baltic Exchange.
Trade Deals in Motion
The US and EU are getting close to finalising a 15% tariff deal, and recent agreements with Vietnam and Japan indicate that trade dynamics are shifting. There’s also the possibility of a US-China deal that could lower tariffs, which might still lead to a traditional peak season in September and October.
Carriers Blank Sailings to Stabilise Rates
Liner companies have started blank sailings again to help stabilise rates, although freight levels have mostly remained flat this week.
FBX Weekly Rate Snapshot
- FBX01 (China – US West Coast): $2,359/FEU, up $81 from last week, down $1,090 from early July
- FBX03 (China – US East Coast): $4,097/FEU, up $47, down $862 from the start of the month
- FBX11 (China – N. Europe): $3,465/FEU, down $62
- FBX13 (China – Mediterranean): $3,332/FEU, down $123
Outlook
It’s still uncertain whether the true peak season is yet to come, but the movements in rates and ongoing tariff discussions will play a crucial role in shaping the remainder of the year.
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Source: Baltic Exchange
